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Regulatory Enforcement and Sanctions Bill [Lords]
11:15 am
Pat McFadden (Minister of State (Employment Relations and Postal Affairs), Department for Business, Enterprise & Regulatory Reform; Wolverhampton South East, Labour)
My understanding is that there should not be an issue with the change in value of assets that the hon. Gentleman describes. I am happy to give him further detail about that, but the schedule deals with assets at the point of transfer. That is the key point. The schedule seeks to avoid unintentional or unwelcome tax consequences that could arise as the result of a move from a private company to a statutory body.